Financial Support

FEATURED ARTICLES ABOUT FINANCIAL SUPPORT - PAGE 5

NEW DELHI: A pension scheme for unorganised sector employees, financial support for transgenders, enhanced financial assistance for women in distress -- Delhi Chief Minister Sheila Dikshit today rolled out a budget with focus on social sector as she is seeking a fourth-term later this year. With the state election likely to be held in November, she earmarked Rs 10,359 crore for social services sector, which is a whopping 65 per cent of the total plan outlay of Rs 16,000 crore.

WASHINGTON: Asserting that the Islamic State of Iraq and the Levant (ISIL) has become the most well-funded terrorist group in recent memory, two top US Senators have urged the Obama Administration to label the outfit as a 'Transnational Criminal Organisation', a designation given to Hezbollah. "ISIL has the resources, weaponry, and operational safe havens to continue to threaten the stability of the region and US national security interests," Senators Bob Casey and Marco Rubio said in a letter to Secretary of State, John Kerry yesterday.

NEW DELHI: Telecom regulator Trai on Monday recommended a financial support of Rs 2,750 crore to BSNL to sustain its rural wireline connections installed before April, 2002. "The support to BSNL should be continued for two years for sustenance of rural wire-line connections, installed before April 1 , 2002 with effect from July 18, 2011. The amount of support may be Rs 1,500 crore for the first year and Rs 1,250 Crore for the second year," Trai said. BSNL had requested support of Rs 2,580 crore per year for the same.

NEW DELHI: Prime Minister Manmohan Singh on Tuesday held discussions with his senior colleagues in the face of developments in the Satyam Computer Services case, which is billed as the the country's biggest corporate fraud. External Affairs Minister Pranab Mukherjee, Home Minister P Chidambaram, Commerce and Industry Minister Kamal Nath, Corporate Affairs Minster P C Gupta and Deputy Chairman of Planning Commission Montek Singh Ahluwalia attended the meeting. Various government agencies and regulators have acted in coordination to deal with the crisis following startling disclosures by B Ramalinga Raju, the founder chairman of the Satyam, unfolding a Rs 7,800-crore scam.

NEW DELHI: A welfare fund for the benefit of emigrants is being considered by the government, a move that may help millions of Indians working abroad. The proposal involves provision of welfare services to emigrants at all stages, including financial support to meet emigration expenses, on-site welfare during their stay abroad and need-based rehabilitation services after their return to India. The fund is likely to be established in current financial year, according to a press release issued by the Ministry of Overseas Indian Affairs.

NEW DELHI: The Federation of Motor Sports Clubs of India (FMSCI) is close to achieving the status of a National Sports Federation after years of wait, the officials claimed today, but even then the promoters of Formula One in the country should not hope for any financial support, the government clarified. FMSCI has long been trying to get recognition as a NSF and its vice-president R K Dhawan says they recently got a verbal commitment from the ministry that upon bringing minor changes in their constitution the NSF status can be granted to them.

KOLKATA: IFCI said that it has decided to exercise the call option and redeem its family bonds - Millionaire and Gift bonds - issued in 1996 in order to consolidate financial position and to bridge the liquidity gap. The decision was taken after the central government provided financial support to the company to meet the outstanding liability of its retail investors, an IFCI release said, quoting its general manager AK Das. IFCI was exercising the...

NEW DELHI: Three years after announcing the setting up the India Inclusive Innovation Fund ( IIIF ), the government formally launched the fund on Monday with the initial corpus of Rs 500 crore. The ministry of small and medium enterprises would pump in Rs 100 crore while the rest would come from banks and overseas financial investors. The fund would be eventually scaled up to Rs 5,000 crore over the next two years. The fund, which will be registered under Sebi's Alternative Investment Fund Category , will invest in innovative ventures that are scalable, sustainable and therefore profitable but address social needs in areas of healthcare, food, nutrition, agriculture and education.

NEW YORK: Two US citizens, who had planned to travel to Afghanistan and Iraq to fight for al-Qaeda, have plead guilty to providing material and financial support to the terror group. Wesam El-Hanafi (37) and Sabirhan Hasanoff (36) plead guilty in Manhattan federal court to providing material support, including financial support, equipment and technical advice to al-Qaeda associates in Yemen and elsewhere. El-Hanafi is a US citizen who was born and lived in Brooklyn, while Hasanoff is a dual citizen of the US and Australia and resided in Brooklyn.

JAMMU: Reserve Bank of India governor D Subba Rao met Jammu and Kashmir Chief Minister Omar Abdullah here and discussed matters relating to the functioning of banks in the state, and assured full support in strengthening the financial institutions. During the meet issues related to credit disbursement status, share of agriculture advances out of total loans disbursement, lending of finance to MSME sector, financial inclusion programme under SWABHIMAN, implementation of Secularisation and Reconstruction of Financial Assets and Enforcement of Scrutiny Interests ( SARFEASI )